Five things to know about entrepreneurship

Here’s something worth saying out loud: It’s OK if the idea of starting a business seems daunting. 

That’s only natural — it’s a big undertaking, one with the potential to transform your life and your community for the better. But it’s also worth noting that just because it’s daunting doesn’t mean it needs to be scary.

What a lot of people don’t know is that there are robust support networks and resources that exist to help entrepreneurs on their exhilarating journey from idea to launch — and beyond.

The good news for you is that southeast Minnesota is one of those places and Red Wing Ignite (RWI) is one of those resources. RWI was founded in 2013 to fuel economic development in the city and surrounding community by working across sectors in support of entrepreneurs and innovators as well as businesses and students. The most important thing for entrepreneurs in our area to know is that they’re not alone on this journey.

If you or someone you know are considering becoming an entrepreneur, here are five questions we often hear about entrepreneurship and our advice for each one:

Interested in learning more about becoming an entrepreneur?

For one of our upcoming workshops.
Or get in touch with the Red Wing Ignite team to find out more about the support resources available to entrepreneurs in our region!

Why should I consider becoming an entrepreneur?

First of all, you’ll be your own boss. You get to make your own schedule and decide how you run your business. It’s your passion driving your work, and you will have the opportunity to share that passion with like-minded people every day. Starting a business has the potential to open doors and transform your life in ways you can’t imagine. And here in Red Wing, you’ll have a community there to support you every step of the way — even when it gets hard. Because, let’s be clear, becoming an entrepreneur is not without challenges.

What if I’m not sure I want to become an entrepreneur?

That’s OK! It’s a big decision, and one that might feel like a leap of faith, because starting a business is hard work with plenty of ups and downs. That’s why it’s such an exciting and rewarding experience. But there are programs out there — like our Ideation Workshop and Startup Sprint — designed to help would-be founders work through those same feelings and questions. These programs offer participants a first taste of entrepreneurial culture and exposure to the tools entrepreneurs need to succeed. One possible outcome might be deciding you want to launch a startup. Other potential benefits could include honing your problem-solving skills, learning the value of failure in entrepreneurship, and building relationships with others in your community.

How much money do I need to get started?

Ready for a surprise? None! The only investment you need to make to get started on this journey is your time spent at our workshops. Once you’re in our network, we will work with you to find ways to raise money if and when you need to. That being said, however, we understand how valuable your time is and we don’t want that to become a limiting factor for your ability to attend or participate in our programs and events. If you find the timing of our workshops conflicts with your schedule, please reach out and let us know.

Do I need an idea before I can get started?

A specific idea is not a prerequisite to become an entrepreneur. And experience isn’t either! Programs such as our Ideation Workshop give you and others the chance to identify problems that you are passionate about solving, and then work with a group to generate new ideas and concepts to solve them. Openness and creativity are two of the keys to unlocking what could become your own startup venture, and make it such an exhilarating experience

How do I know if I have a good idea?

There are a number of ways to realize the potential of an idea. Our programs are designed to help you define a clear problem worth solving, develop possible solutions, and ensure you deliver solutions that work. You can also learn methodologies utilized by other successful entrepreneurs, founders, and leaders to efficiently validate your assumptions and tweak your idea as needed.
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